Barrick Gold Corp (USA) (NYSE:ABX)

CAPS Rating: 3 out of 5

Barrick is the world’s largest pure gold mining company with more than two dozen operating mines around the world.


Player Avatar callumturcan (92.03) Submitted: 12/5/2012 5:50:39 AM : Outperform Start Price: $34.00 ABX Score: -59.78

If history is any lesson then gold is going up. China wants to increase its reserves (from 1,054.1 metric tons in 2008) tp 6,000 metric tons by 2013 and 10,000 metric tons by 2018, according to state officials. Other nations like Russia, Turkey, and Argentina have also been buying up gold to bulk up their reserves. Plus HSBC see's gold hitting $1,850 an ounce in 2013 and they said it would hit $1,900 by years end. QE and higher levels of demand will force gold prices up, and all gold producers will benefit. Barrick plans to increase gold production levels from 7.5 million ounces now to 8 million by 2014 (with a slight dip in 2013).

Member Avatar callumturcan (92.03) Submitted: 12/5/2012 5:51:14 AM
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Why gold prices will go up

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